Novo Nordisk's Ozempic Shows Promise in Treating Kidney Disease, Dialysis Stocks Suffer

Novo Nordisk's stock surged while dialysis providers DaVita and Fresenius Medical Care saw their stocks plummet after Novo hinted that its diabetes drug, Ozempic, could potentially treat chronic kidney disease. Novo tested a once-weekly dose of its drug semaglutide in patients with type 2 diabetes and kidney disease, and based on interim results, an independent data monitoring group recommended stopping the study ahead of schedule. Novo expects to release the full results in early 2024. The news impacted dialysis stocks, as obesity and diabetes are risk factors for kidney disease.